Morocco- Moroccan Consumer Prices Increased by 0.7% in 2017

(MENAFN - Morocco World News) Rabat – Moroccan inflation is on the rise as the increased by 0.7 percent in 2017, according to the latest figures of Morocco's High Commission for Planning.

In its latest report on Morocco's (CPI) for 2017, the HCP noted a deterioration in the financial situation of households and a rather mixed perception of its future evolution.

In December alone, the CPI increased by 0.5 percent, due to a rise of 1.1 percent of the food index and a 0.1 percent drop of the non-food index. This resulted in a 0.3 percent increase of the underlying inflation index.

Between November and December, vegetable prices rose by 5.4 percent, followed by meat prices by 1.3 percent and oil and butter prices by 0.5 percent. These increased were offset however with a decline of 2.4 percent in fruit prices, and 0.4 percent in coffee, tea and cocoa prices.

The highest increase of 2017's consumer prices was registered in Laayoune at a 2.1 percent rate, followed by Tetouan at 1.4 percent, Marrakech and Safi with 1.1 percent, while Meknes witness a decrease of 0.1 percent.